If a firm decides to ignore the reactions of its rivals to its policies, the appropriate model to analyze its behavior is
A)game theory.
B)perfect competition.
C)monopoly.
D)cartels.

Question

Quizplus · Accepted Answer

In a monopoly, a single firm dominates the market, allowing it to set prices and policies without considering the reactions of rivals, as it has no direct competitors. This contrasts with game theory, perfect competition, and cartels, where interactions and reactions among firms are crucial to strategic decision-making.

If a Firm Decides to Ignore the Reactions of Its